Recession has cut expectations, but innovation and cloud interest should keep market steady, according to IDC
Information Management Online, October 8, 2010, Justin Kern
October 8, 2010 - Although expectations have dampened with a down economy, interest and investment in business analytics should grow by 7 percent per year through 2014, according to an annual report from the International Data Corporation.
But integral to maintaining that interest - especially with the recent explosion of attention to cloud computing and Software-as-a-Service - is to steer more money into innovation, said Dan Vesset, IDC vice president of business analytics research and the lead analyst on the report.
In "Worldwide Business Analytics Software 2010-2014 Forecast and 2009 Vendor Shares," IDC analysts cut predicted expansion in business intelligence and analytics markets by about 3 percent from a similar review from 2008. However, mainstream acceptance of analytics as a business tool, particularly by top-level executives, has kept the industry in the black during the recession, says Vesset.